August 17, 2017

SEBI ORDER DATED : 01/08/2017Sub: Action against Exclusively Listed Companies and its Promoters/Directors
pending Exit Offer to the Shareholders 1. SEBI vide circular dated October 10, 2016, provided options to the Exclusively
Listed Companies (“ELCs”) on Dissemination Board (“DB”) to raise capital for
meeting the capital requirement for getting listed on the nationwide stock
exchanges or to provide exit to investors. An exit mechanism for investors in such
ELCs was also specified in the aforesaid circular. Further, ELCs were required to
furnish the plan of action by January 09, 2017 to the Designated Stock Exchanges
(DSEs), which was subsequently extended till June 30, 2017. Such ELCs and the Depositories shall not effect transfer, by way of sale,
pledge, etc., of any of the equity shares and the corporate benefits such
as dividend, rights, bonus shares, split, etc. shall be frozen, for all the
equity shares, held by the promoters or directors of non-compliant
Exclusively Listed Companies till the promoters of such non-compliant
Exclusively Listed Companies provide an exit option to the public
shareholders in compliance with SEBI circular dated October 1please click for COMPLETE SEBI ORDER http://www.cse-india.com/upload/upload/SEBI_CIRCULAR_EXCLUSIVELY_LISTED_01082017.pdf